American Commercial amends loan, downsizing revolver, accelerating maturity

By Sara Rosenberg

New York, June 26 - American Commercial Lines LLC amended its credit facility on Thursday, decreasing the revolver by $50 million and changing the maturity date to March 31, 2009 from April 27, 2012, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the amendment increased the minimum total leverage ratio to 3.75 times from 3.0 times at June 30, and decreased the minimum fixed-charge coverage ratio to 1.25 times from 1.5 times until maturity.

Wells Fargo is the administrative agent on the deal.

American Commercial is a Jeffersonville, Ind.-based marine transportation and service company.

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